Mar, 31, 2022 — ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) is a federal credit union headquartered in BLOOMFIELD, NJ with 2 branch locations and about $26.53 million in total assets. Opened 86 years ago in 1936, ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) has about 4,170 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 125 Franklin St BLOOMFIELD, NJ 07003-5730 |
| Phone: | (973) 748-8847 |
| Fax: | (973) 748-8846 |
| Website: | http://www.ectcu.org |
| Branches: | 2 branch locations |
| Members: | 4,170 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1131 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Jun 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $26,529,661 |
| CEO/Manager: | Robert D Steeves |
| Chairperson: | Kenneth King |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 950,027 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,051,058 |
| Unsecured Loans | 5,231,429 |
| Other Loans | 5,179,064 |
| TOTAL LOANS | 12,461,551 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -114,982 |
| Land And Building | 159,081 |
| Other Fixed Assets | 38,189 |
| NCUSIF Deposit | 209,616 |
| All Other Assets | 0 |
| TOTAL ASSETS | 26,529,661 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 500,000 |
| Accounts Payable & Other Liabilities | 578,639 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,930,879 |
| Regular shares | 18,568,131 |
| All Other Shares & Deposits | 3,395,111 |
| TOTAL SHARES & DEPOSITS | 23,894,121 |
| TOTAL LIABILITIES | 24,972,760 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,556,901 |
| TOTAL EQUITY | 1,556,901 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 26,529,661 |
| INCOME & EXPENSE | |
| Loan Income | 184,740 |
| Investment Income | 30,270 |
| Other Income | 32,200 |
| Total Employee Compensation & Benefits | 111,529 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 85,650 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,500 |
| Cost of Funds | 5,394 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 48,503 |
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